Comment Text:
Dear Chairman and Commissioners,
My name is Ben Bentley, and I'm just a regular guy from Missouri writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm not an expert or a big investor, just someone who believes in the freedom to participate in legal, regulated markets, and I want to see the U.S. stay ahead in financial innovation.
I'm pretty new to prediction markets, but I've been reading up on them, and I think they're a valuable tool. They let everyday people like me have a say in forecasting events, from elections to economic trends, in a way that feels fair and open. What strikes me most is how these markets can provide information you can't get from polls or news outlets. I support them because I think they should be accessible to regular folks, not just locked away for big institutions. But I also get that there need to be rules to keep things safe and fair for everyone involved.
One thing I'm really concerned about is what happens if these markets get banned or over-restricted. I've read about platforms like Kalshi, which operate under CFTC oversight, and that seems like the right way to go. Regulated markets have checks and balances to protect consumers like me. If we shut them down or make the rules too tight, people will just turn to offshore platforms with no oversight at all. Thats not safer for anyone. Its better to have clear, reasonable regulations here in the U.S. so activity stays in a controlled environment.
Another point I want to make is about innovation. The U.S. has always been a leader in new financial ideas, and prediction markets are part of that. If we clamp down too hard, other countries will step in and take the lead. I dont want to see us fall behind on something that could be a real asset for our economy and for regular people trying to make informed decisions.
Looking at some of the questions in your notice, Id like to address a couple from the Public Interest section, like Question 7 on balancing innovation and consumer protection. I think the CFTC can do both by setting up smart rules that prevent fraud or manipulation without killing the market altogether. Also, on Question 11 about risk management, I believe regulated platforms already offer a structure to manage risks better than unregulated alternatives.
Im asking you to support proportionate regulation of prediction markets. Dont ban them or make the barriers so high that only the biggest players can participate. Keep them accessible, safe, and under U.S. oversight so people like me can engage without worrying about getting scammed on some offshore site. Thank you for considering my input.
Sincerely,
Ben Bentley
